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GENERAL MOTORS CO

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GM trade ideas

Go long GM, unusual options activity Go long; there's a story behind the EV transformation and Ultium battery technology is promising. Not only that but there has been unusually large buying of the $60 strike call options for GM, signifying big bets usually from big institutional investors or other high net-worth traders. Unusually high call volumes are very bullish and can cause a gamma squeeze; which can force additional stock-buying due to open options positions on the underlying stock.
NYSE:GMLong
by EBITDAtiger
4
GM LongGM 1-4 Week Horizon Price seems to be consolidating to a flag pattern, could mean price may go on either direction. Bullish signs; Price is currently at the 21ema area and seems to be holding. This area also happens to be 61.8% Fibonacci. Stochastics are at oversold level, all good signs for bulls. Bearish signs; There seems to be a strong resistance at 57 area where price got rejected twice. If you look at MACD and price, X & Z on price is the same level while on the MACD, Z lines and histogram shows lower level than X (this could mean lower momentum on the last pivot high). It might still make sense to enter at the buy zone but key an eye on price bounce or break key level 57 (still a good +9%, maybe trim position at this area) Cut loss just below 21EMA at 50.59
NYSE:GMLong
by mdd100